Marriott at Marco Island

[jerseygirl]

I think I'll settle for this one and use the extra $3000 for a few nice meals and a new bathing suit:

http://www.vrbo.com/6857

 

[wuv pooh]

Matt & Winnie the Pooh,
You and MOST of the TUG BBS are NOT Marriott's average customer. They not only pay cash for their weeks but that cash is a small part of their disposable cash, not the majority of it. Most MVCI owners don't want to take a chance on a good week once in a blue moon on 2 weeks notice. They want the best and can afford it so they buy it. People are paying 80K to 100K for Maui weeks and don't hesitate. I would never pay 80K for Marco but many people will.

You make my point Eric. These are the same owners who don't use their week because they are "busy", renting is too much hassle, give it to their kids who want to trade to Orlando, etc. etc. You can get great weeks on a regular basis if you want them. No need to spend anywhere close to $100k to go to Marco Island. I am sure there are people who will do it cheaper, but an $8k Manor Club resale will get you there every year if you want.

 

[Eric]

Actually the would be incorrect. That 33% is coming from a SMALL portion of the owner base. Most owners pay cash. As far as owning a condo, paying $100,000 cash is not the same as buying a condo for 1 million.

Hmmmmm.... maybe you didn't see the following, posted by Dave M on another thread:



"53% of Marriott's 2004 profit from timeshares came from sales. An astounding 33% came from financing!"

I would leave my $100K in my investment account, where I would expect to earn at least $6000 per year (and would be disappointed if that's all I made). With my earnings, and my $1000 (++++) maintenance fee, I'm pretty sure I could come up with a decent weekly rental.

If most MVCI owners were as wealthy as you seem to believe, they would be buying whole units, not weeks. And, Marriott would not be reaping 1/3 of their profits from financing.

 

[jerseygirl]

As far as owning a condo, paying $100,000 cash is not the same as buying a condo for 1 million.

Agreed. But paying $100,000 for 1/52 of $1,000,000 (or $3,000,000) doesn't make a whole lot of sense.

Are there stats available as to what percentage of people pay cash or pay off their MVC loans within 90 days (or whatever the required financing period to get the extra incentive points)? I would love to see them. I would be very surprised if the "majority" fall into this category given the profitability reported by Marriott.

 

[CMF]

Cents Sense

Lot's of folks make economic decisions that don't make sense to other folks. Buying a new car every two years, a watch that cost thousands of dollars, or betting a hundred dollars on a hand of black-jack does not make sense to me, but other people do it all the time. It's all relative. I venture to guess that the folks that will pay $100K for a Marriott in Marco Island do not read these boards and do not care to even if they new about them. And, that Marriott will sell every one of those timeshares.

Charles

 

[jerseygirl]

CMF -- I suspect you're right, but I really don't think the prices will be $80-$100K per week.

Eric --

Here are a couple of interesting facts I found on ARDA's website:

Companies reported financing 72.9 percent of the dollar value of timeshare sales in 2005, compared to 69.7 percent in 2004. The remainder of the sales was cash or cash-out within the first 90 days.

The median income is $74,000 for recent buyers and $81,000 among all owners.

 

[Eric]

Thats probably true BUT MVCI is not the average buyer. Westgate will finance anyone with $5.
I would suspect the average income for MVCI family is at least 2X or $150,000

CMF -- I suspect you're right, but I really don't think the prices will be $80-$100K per week.

Eric --

Here are a couple of interesting facts I found on ARDA's website:

Companies reported financing 72.9 percent of the dollar value of timeshare sales in 2005, compared to 69.7 percent in 2004. The remainder of the sales was cash or cash-out within the first 90 days.

The median income is $74,000 for recent buyers and $81,000 among all owners.

 

[Kazakie]

I would leave my $100K in my investment account, where I would expect to earn at least $6000 per year (and would be disappointed if that's all I made). With my earnings, and my $1000 (++++) maintenance fee, I'm pretty sure I could come up with a decent weekly rental.

I think I'll settle for this one and use the extra $3000 for a few nice meals and a new bathing suit:

http://www.vrbo.com/6857

We're mixing numbers a bit. The $6,000 return is pre-tax, the $1,000 maint fee is post-tax, and of course the $4,000/week is post tax (www.vrbo.com/6857).

Although lets all hope we can do better than an average 6% return on our investments.

 

[jtrossi2]

We spent two weeks on Marco Island a year or so ago at the Marriott. We actually didn't like it that much. The beach was nice, but the island was too developed for our taste - no open space and lots of condos and traffic.

We think Sanibel Island is much nicer.

 

[jtrossi2]

We spent two weeks on Marco Island a year or so ago at the Marriott. We actually didn't like it that much. The beach was nice, but the island was too developed for our taste - no open space and lots of condos and traffic.

We think Sanibel Island is much nicer.

 

[jerseygirl]

The $6,000 return is pre-tax, the $1,000 maint fee is post-tax, and of course the $4,000/week is post tax

You're absolutely right ... it looks like I'll only be able to keep $4020 of my $6000 investment income .... oh, and my $100,000!

 

[Eric]

As CMF points out, it's not always about number crunching. Why do smart, successful people drive BMW's & Lexus instead of Chevy Cobalts. They can afford it and they want it. Neither is wrong or right. If you don't mind spending every day for 2 months checking online and MAYBE getting what you want, go for it. Some people don't want to and can afford what the want to own.

You're absolutely right ... it looks like I'll only be able to keep $4020 of my $6000 investment income .... oh, and my $100,000!

 

[jerseygirl]

And some of us enjoy the thrill of the hunt ... or drive an Infiniti (not because we couldn't afford the BMW or Lexus, but because the difference paid for last month's trip to Italy ).

I don't disagree with your premise that "some people can afford what they want to own." I'm sure they can. But, people with an income of $150K (your estimate of the median income) shouldn't spend $80- $100K on a week unless mommy and daddy left them a cool million or two to supplement that income! Of course, I could be jaded by the 24 years I've spent in the investment field.

But, it takes all kinds to make the world go around, and I'm eternally grateful to those people who deposit the wonderful units I get to trade into!

 

[Eric]

As far you being grateful to them, it sounds sarcastic, not matter how you slice it

BTW
Spending 24 years in the investment field doesn't mean you actually know anything. Its not like after 20 years, you get a sticker saying you are an expert. I am sure some rich Marriott owners look down on you for getting up early every day to try and save a few bucks to find a trade so you can proclaim you are an expert. To each his own.

And some of us enjoy the thrill of the hunt ... or drive an Infiniti (not because we couldn't afford the BMW or Lexus, but because the difference paid for last month's trip to Italy ).

I don't disagree with your premise that "some people can afford what they want to own." I'm sure they can. But, people with an income of $150K (your estimate of the median income) shouldn't spend $80- $100K on a week unless mommy and daddy left them a cool million or two to supplement that income! Of course, I could be jaded by the 24 years I've spent in the investment field.

But, it takes all kinds to make the world go around, and I'm eternally grateful to those people who deposit the wonderful units I get to trade into!

 

[jerseygirl]

Oh, I'm not being sarcastic. I LOVE timesharing, love to exchange, etc. I'm one of the industry's biggest fans (ask my family and friends, who I bore regularly).

I really do realize there wouldn't be great exchanges if people didn't buy and deposit wonderful weeks, and there wouldn't be great resale buys if people didn't buy and then sell wonderful weeks. I deposit some wonderful weeks myself, and hope they go to people who love timesharing as much as I do.

But, TUG is about helping other people make the most of timesharing, and no matter how you cut it, I can't make it work to pay $80-$100K for a Marco Island week. Maybe you can, and that's okay. But, I think it's only right to present both sides for the newbies who might not fully understand the economics, or the financial impact of 13.9% interest, etc.

 

[jerseygirl]

BTW
Spending 24 years in the investment field doesn't mean you actually know anything. Its not like after 20 years, you get a sticker saying you are an expert. I am sure some rich Marriott owners look down on you for getting up early every day to try and save a few bucks to find a trade so you can proclaim you are an expert. To each his own.

Ahh .... now that's mature! And, where did I proclaim I was an expert? I'll withdraw that comment if I can find it.

 

[Eric]

trust me , I am not plunking down 80K but I do understand the people that do are smart enough to think it's the right move for them.

Oh, I'm not being sarcastic. I LOVE timesharing, love to exchange, etc. I'm one of the industry's biggest fans (ask my family and friends, who I bore regularly).

I really do realize there wouldn't be great exchanges if people didn't buy and deposit wonderful weeks, and there wouldn't be great resale buys if people didn't buy and then sell wonderful weeks. I deposit some wonderful weeks myself, and hope they go to people who love timesharing as much as I do.

But, TUG is about helping other people make the most of timesharing, and no matter how you cut it, I can't make it work to pay $80-$100K for a Marco Island week. Maybe you can, and that's okay. But, I think it's only right to present both sides for the newbies who might not fully understand the economics, or the financial impact of 13.9% interest, etc.

 

[Eric]

You kinda made it sound like it would be stupid for them to spend 80K since you were an investment banker and knew better than they did. I am sure you didn't mean it that way. You are just a little tired from getting up early to trade that Silver Summit week for Maui New Years

Ahh .... now that's mature! And, where did I proclaim I was an expert? I'll withdraw that comment if I can find it.

 

[turkel]

Eric, I don't know Jerseygirl but she does not sound sarcastic and you my friend have come off quite rude.

Just thought you'd be interested in a 3rd party opinion

 

[Dave M]

In my capacity as a moderator...

This thread has strayed far into unacceptable territory. Please get back on track with the subject of the thread or do not post. Anyone who posts again in this thread in a manner that is contrary to the BBS "Be Courteous" rule, will have the privilege of sitting out from posting for a while!

 

[Chari910]

I've visited both Marco and Sanibel. Sanibel definitely has lots more shells-but- the beach STINKS of rotten, dead shells littering everywhere. I couldn't get in the water because of the smell. Maybe I was at the wrong beach but I'd like to hear what other people think. :ignore:

 

[seatrout]

I've visited both Marco and Sanibel. Sanibel definitely has lots more shells-but- the beach STINKS of rotten, dead shells littering everywhere. I couldn't get in the water because of the smell. Maybe I was at the wrong beach but I'd like to hear what other people think. :ignore:

You do have a great point, the picture of all the littering shells look great but I would guess that with all the dead flesh around, it would stink. I live near galveston and when the sea weed wash up -- it also stink bad.

Side note--Do you know which beach that has Pink sand. My daughter wanted to see pink sand.

 

[Steve]

I have never experienced a stench from the shells on Sanibel. They do get red tide form time to time...but so does Marco and all of Florida, for that matter. I'm not sure when or where you were on Sanibel, but the beach does NOT stink in front of any of the timeshares or hotels that I have stayed at on the island.

Steve

 

[pcgirl54]

No smell on Sanibel or Captiva when I was there in July a couple of years back. Shells were everywhere,you could hear them clink in the tide. I am hoping Marco is the same. Disappointed that other east coast areas do not have shells like that. In fact ,I hardly see any shells on Hilton Head although on this last trip I saw more than 20 sandollars.

 

[Chari910]

Can you tell me what the best beach is to stay on Sanibel then? I love shells but not the ones with rotten meat still inside.